Hot Off the Press

Black & Decker to AcquireTwo Brass-Hardware Makers

Tuesday, July 08, 2003

Black & Decker Corp. is expected to close a deal later this year to buy Baldwin Hardware and Weiser Lock from Taylor, MI-based Masco Corp., according to Crain’s Detroit Business. Black & Decker has signed a letter of intent to acquire the two companies, which last year had sales of $250 million.
Baldwin solid-brass lighting, bath, gift and lock products while Weiser produces home locks.

Metaldyne Bites the Bullet

Tuesday, July 08, 2003

Responding to market conditions, Metaldyne Corp. has laid off about 600 employees in 2003 and has increased the overseas purchase of steel to offset high domestic prices, according to a report in the Financial Times. The company reportedly had purchased about 90 percent of its steel from domestic sources, but is expected to increase imported-steel buys to 40 percent by the end of next year. Company officials told the Times that importing steel is necessary to offset domestic-steel price increases of as much as 50 percent.

AISI Releases 2002 Steel Stats Report

Monday, July 07, 2003

The American Iron & Steel Institute has released its 2002 Annual Statistical Report. The 130-page book provides statistical data on the United States steel industry as well as selected data on the Canadian and Mexican industries. Some worldwide statistics also are included. Charts cover shipments, apparent supply, imports, employment and raw steel over a 10-year period. Other data cover income and cash-flow, and shipments by product and market.
The report is available in book form or on CD in Excel format. To purchase ($160 for a hard copy and $140 for an electronic version), visit www.steel.org/stats.